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Advanced Life Sciences Announces Third Quarter 2009 Financial Results
Date:11/10/2009

CHICAGO, Nov. 10 /PRNewswire-FirstCall/ -- Advanced Life Sciences Holdings, Inc. (OTC Bulletin Board: ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, oncology and respiratory diseases, today announced its financial results for the third quarter ended September 30, 2009.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080218/ALSLOGO)

The net loss allocable to common shareholders for the three months ended September 30, 2009 was $2.9 million or ($0.05) per share compared to a net loss allocable to common shareholders of $13.1 million or ($0.34) per share for the three months ended September 30, 2008. The decrease in the net loss is due to a $10.0 million milestone expense incurred under the license agreement with Abbott in the third quarter of last year as well as decreased costs related to regulatory expenses and development activities involving the Company's lead compound, Restanza(TM) (cethromycin).

The Company ended the third quarter of 2009 with cash and cash equivalents totaling $4.2 million. Cash used for operations during the quarter was approximately $4.5 million.

"In the third quarter, we continued to advance Restanza on two significant fronts: in community acquired pneumonia (CAP) and as a broad spectrum countermeasure for biodefense," said Michael T. Flavin, Ph.D., chairman and chief executive officer of Advanced Life Sciences. "In CAP, we are in ongoing discussions with the FDA to identify the scope and protocol design for the additional clinical data that would be required to satisfy the FDA's request for additional efficacy information to complete the clinical development program. In biodefense, we made exciting progress by generating positive pivotal
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SOURCE Advanced Life Sciences Holdings, Inc.
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